Commercial Real Estate Report - Atlanta, GA [Apartment]

Property Type

The remarkable performance of the Atlanta apartment market that began in 2010 continued through 2012. By the end of 2012 the vacancy rate had declined by a loss of fully 50 basis points since the end of the third quarter, and a decline of 120 for the year. Rental growth rates, favorable but less than dramatic, increased modestly in 2012. Asking and effective averages for the fourth quarter were up 1.9% and 2.8% for the year, following gains of 1.3% and 1.6% in 2011. (3/8/13)

Boundaries

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Recent Sales New Construction Highlight Submarkets

Latest Quarterly Reports (Q1 2013)

Atlanta, GA - Entire Metro
Submarkets
South DeKalb -170 bps
Roswell/Alpharetta -80 bps
Central I-75 West -80 bps
I-20 West -80 bps
I-20 East -70 bps
Clarkston/Stn Mtn -60 bps
Buckhead -40 bps
North DeKalb -40 bps
Clayton/Henry -30 bps
South Fulton -30 bps
South Gwinnett -30 bps
North Gwinnett -20 bps
Marietta -20 bps
Sandy Spg/Dunwoody -10 bps
Smyrna -10 bps
Cherokee County 40 bps
Midtown 60 bps
Decatur/Avondale 70 bps

Recent Sales

Cap Rate Trend

Sales Trend

Q1
2013
Q4
2012
Q3
2012
Q2
2012
Mean 7.0% 7.0% 7.6% 7.4%
Median 6.9% 6.2% 7.1% 6.6%
12 Month Rolling 7.1% 7.3% 7.7% 7.8%

Commercial Real Estate News

Recent Rent Observations

Location ID Class Rent
North Gwinnett 10212 BC $695
South Gwinnett 62274 BC $758
North Gwinnett 58924 BC $745
I-20 East A3168 BC $548
North Gwinnett 33464 A $1,037
Decatur/Avondale A554 BC $675
Decatur/Avondale 22564 BC $559
South DeKalb A557 BC $517
North Gwinnett 51005 A $882
North DeKalb 23069 BC $818

Change From Previous Quarter

Market Rent Vac Inv
Atlanta 0.5% -30 bps 0.2%
South Atlantic Region 0.4% -30 bps 0.2%
United States 0.6% -30 bps 0.2%

Metro vs. Region 0.1% 0 bps 0.0%
Metro vs. US -0.1% 0 bps 0.0%

Latest New Construction Updates

National Apartment Real Estate Trends

Vacancy Trends
Supply and Demand
Inventory Change
Inventory Change

Metropolitan Apartment Rankings (Q1 2013)

Based on 275 U.S. Markets
Value:
219. Terre Haute, IN 6.4%
220. Bremerton-Silverdale, WA 6.5%
221. Evansville, IN 6.5%
222. Lafayette, LA 6.5%
223. Saginaw, MI 6.5%
224. Atlanta, GA 6.6%
225. Hagerstown, MD 6.6%
226. Indianapolis, IN 6.6%
227. Rocky Mount, NC 6.6%
228. Greenville, NC 6.7%
229. Houston, TX 6.7%

Avg Annual Growth Rate (2013 - 2017)

Market Rent Vac Inv
Atlanta 5.5% 484 bps 1.7%
South Atlantic Region 3.9% 496 bps 2.4%
United States 4.4% 437 bps 1.9%

Metro vs. Region 1.6% -13 bps -0.7%
Metro vs. US 1.1% 46 bps -0.2%